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Exim Bank Celebrates Another Milestone In East Africa’s Financial Sector

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Bank Of Uganda Governor, Emmanuel Tumusiime-Mutebile, has commended Exim Bank for being resilient and withstanding a possible upheaval as the bank rebranded from Imperial Bank to Exim Bank.

Addressing guests at a Cocktail Party at the Serena Kampala Hotel and Conference Centre to celebrate the Bank’s new identity, Governor Mutebile commended the board, management and staff of Exim Bank for bringing additional banking services and facilities to Uganda.

Exim Bank Managing Director, Mr. R. R. Chandramouli, thanked the Governor for maintaining a steady hand on Uganda’s banking sector.

”We are extremely grateful to you for staying the course with us all these years especially the times when some were uncertain. I’d like to think that your loyalty as customers is given to us in return for our loyalty to you as reliable bankers,” Chandramouli said.

“We also wish to thank the Governor Bank of Uganda and the government at large for continued support you have given to us as a bank and the entire financial sector. Your steady hand at the till has ensured we all stay afloat and has given confidence to investors in the financial sectors including our own,” he added.

Exim Bank Chairperson, Mrs. Sarah Nanziri Baggalaliwo, pointed out the long and venerable heritage that Exim Bank shared with Tanzania, and said Uganda was proud to be the first country in East Africa outside Tanzania that Exim Bank had chosen to expand into.

“You represent a very large number of customers that we hold in very high regard and we thank you for accepting our invitation to celebrate with us the beginning of a new era” she added.

Exim Bank Uganda began operations on March 17, 2016, taking over from Imperial Bank Uganda Limited.

The shareholders in Exim Bank Uganda are Exim Bank Tanzania with 58.6%, Mukwano Group 36.5% and Export Finance Limited 4.9%.

Exim Bank Tanzania is the largest indigenous Bank in Tanzania, and has been in operation for 19 years, with a total of 37 branches at strategic centres across Tanzania, and two overseas Subsidiaries. The Bank’s Total Assets were at Tzs 1.250 trillion (USD 580 mio) as on 31st December 2015 with Shareholders Funds of nearly USD 90 Million. The bank has two banking subsidiaries in Comoros Djibouti. Uganda is the third operational country the bank has expanded to.

Exim Bank posted a stellar financial performance for the year 2015, with the bottom line (Profit after Tax) posting a record growth of 80% over previous year at Tzs30.666 billion (USD 14 mio).

“It has been a great honor to partner with ‘Exim Brand’ here in Uganda”, said Alykhan Karmali, key promoter of the Mukwano Group.

“We are all excited to benefit from the prowess of ‘Exim Group’s experience on trusted and futuristic banking. Customers with operations in both the countries can now look forward to greater synergies, efficiencies and facilitations on banking services”, added Mr Alykhan Exim Bank Uganda shall have the privilege of making a strong beginning with a set of five well-established branches in Kampala. The bank has more than 100 dedicated and loyal staff.

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